Funding for business

jv1597jv1597 subscriber Posts: 5
edited September 2015 in Business Planning
I have a seedling business with $0 capital, and I'm in need of funding for patenting costs. I did some research and read that a utility patent costs around $3000-$4000. Does anyone know of any funding sources?

Comments

  • hnaviahnavia subscriber Posts: 0
    Hi, there should be some options locally to get $3-4k. You could try a credit line, a small loan from credit unions or small banks, or from family and friends. I don't want to sound like I am soliciting, but since you asked directly, I do know a company that provides loans to small businesses, but usually they start at $25,000. If you plan on starting a business, you will definitely need more than $4,000.
    When do you need these funds? Have you made a budget or built out a financial plan for your company's future expenses?
  • cassy11cassy11 subscriber Posts: 0
    Totally agree! Of course, it depends on the type of business, but you should work on a business plan at first. If it is good, I am sure you will find investors or even sponsors.
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  • jv1597jv1597 subscriber Posts: 5
    Hi, thanks for your posts! I've gone over my options as far as loans are concerned, but I don't have the earnings to acquire a loan of $3,000-$10,000 right now. I have some pretty good product ideas I'm working on right now, but don't want to utilize crowdfunding resources, as I'm at a $0 dollar position financially, and would require some funding for prototyping, and development. I really don't feel comfortable listing my idea without the minimal patenting either.
    So I was just inquiring if anyone had come across this type of situation, and whether they knew of any resources for $0 seedling micro entities.
    Thanks.
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